Gunbot Review: Worth It or Not?

Gunbot is said to be the ultimate crypto trading tool that seeks to generate passive income for traders on autopilot. It is compatible with Windows, Linux, and MAC. The system boasts of having over 7000 active users, and focuses on offering the best support to them. We will see in this review if Gunbot is what you have been looking for.  

About Gunbot

Gunbot is a system that automates your trades in the cryptocurrency markets. It wants to save traders the time they would have spent analyzing the charts and placing trades manually.  

How it works

As a trading tool, Gunbot automatically executes the strategies you have configured on your chosen exchange account. It places orders 24/7 using your coin pair, trying to generate profits on your behalf. The system features a TradingView Addon that enables it to implement buy and sell signals from TradingView.com. All you need to do is choose a single script, and Gunbot will look for trading signals in your email after every two seconds. 

How to get started with Gunbot

Follow these steps to get started with this bot: 

1. Buy a Gunbot license from Gunbot.shop 
2. Install the bot on your computer and link it to your chosen exchange
3. Configure a trading strategy you want, then choose and set a trading pair
4. Press the ‘Start trading’ button for the system to begin implementing your strategy 

How much does Gunbot cost?

Gunbot charges users 0.014BTC, 0.025BTC, and 0.04BTC, for the Standard, Pro, and Ultimate plans, respectively. All packages feature a lifetime license, lifetime updates, exchanges, support through Telegram, and a crypto sight profit tracker. The Ultimate package has additional features like Premium support, a TradingView addon, and a backtesting addon.   

Fees and commissions

The platform does not ask for any fees or commissions from users. Nevertheless, the exchanges you work with may demand fees ranging between 0.20% and 0.30% for every trade. Binance has the lowest fees at 0.10%, though. 

What exchanges does Gunbot integrate with?

Gunbot integrates with more than100 exchanges, including:

• Binance
• Bitmex
• Poloniex
• Bittex
• Kraken
• Bitfinex
• Coinbase Pro
• KuCoin
• Cex.io
• Huobi
• CobinHood
• And so much more

Security and reliability

The software is relatively secure as it doesn’t store your funds and only conducts business with your exchange using API keys. Even then, the vendor fails to tell us what extra measures they have introduced to enhance the security of their product.  

What languages does Gunbot support in their product?

Gunbot supports one language only, and that is English. 

What kind of support options does Gunbot offer?

Customer support is provided through Skype, Telegram, email, and WhatsApp. You can also get personalized one-on-one support by purchasing the Premium Support pack or Gunbot’s Ultimate Edition. Here, you will be assisted to set up and configure the bot through Teamviewer. If necessary, you will be given access to the company’s private Telegram group and the VIP zone where settings and special tutorials are featured.  

The core team

The platform is the brainchild of Gunthy Ltd, a software company based in Spain. Sadly, we are not introduced to any of the core team members. 

Strategy: Bollinger Bands/DCA/reversal trading/MACD, etc

Gunbot works with over 14 strategies, such as Bollinger Bands, MACD, SMACROSS, Emotionless, TSSL, Ichimoku, TSA, Ping Pong, dollar cost average, reversal trading, and more. You are allowed to adjust the default parameters to fit your trading preferences. Unfortunately, the vendor doesn’t explain to us how any of these techniques work. 

Gunbot review: backtesting

As you have seen in the pricing section, the system has a backtesting addon. This feature helps traders to test their trading strategies to see how they work before using real money. They can then adjust the bot’s settings accordingly for improved performance in the live market. 

Trading performance

Like many systems in the automated crypto trading market, Gunbot doesn’t share its trading performance reports. 

Gunbot: user experience

The platform has a new graphical interface whose goal is to make your interactions and experience as simple as possible. For example, it integrates your portfolio, charts, recent trades, and other data into a single dashboard. This allows you to monitor the performance of your bots in a convenient way. The website also provides manual and step-by-step video tutorials that show you how to install the bots. 

Should you use Gunbot?

Gunbot might be a good choice for users who want to accelerate their trading activities. However, traders need to be cautious while using the software because it doesn’t have a proven track record.